Fujian Funeng's main shareholder plans further stake increase

Fujian Funeng (SSE:600483) announced that its controlling shareholder, Fujian Provincial Energy Group and its person acting in concert, Fujian Funeng Xingye Equity Investment Management Co., plan to increase their holdings of the company's A shares within the next six months. The total investment will range from a minimum of CNY 100 million to a maximum of CNY 200 million. The entities will use methods including but not limited to, centralized bidding transactions. The increase is based on a belief in the company's value and future growth. As of the announcement, the shareholder and its affiliates already hold 1,553,333,711 shares, representing 55.87% of Fujian Funeng's total share capital. The company will continue to disclose relevant details as required.